Kenya wants to regulate digital lending rates

by on July 24, 2020 0

The Kenyan central bank is proposing a new law to regulate the interest rates on loans from digital lenders. Online lenders will need the go-ahead from the central bank to introduce new offers or raise lending rates when the legislation goes into effect. Quartz africa reported. Online lending has created a number of complications...

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Dot Dot Loan brand owner writes off loans after violations

by on July 9, 2020 0

Shelby Finance has failed to provide borrowing statements summary to more than 15,000 customers as required by law. Three violations occurred between August 2018 and July 2019, which Shelby Finance reported to the CMA itself in September 2019. The CMA concluded that violations may have negatively impacted customers’ decision-making and will continue to monitor...

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Central bank sets maximum interest rate for credit cards

by on July 4, 2020 0

(QCOSTARICA) The Banco Central de Costa Rica (Central Bank) published early Friday morning the maximum interest rates for credit transactions in colones, dollars and other currencies under the new Ley de Usura – usury law – which is now in effect. The Central bank announced that the maximum interest rate for all types of...

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